Market Trends of Metal Oxide Nanoparticles Industry
This section covers the major market trends shaping the Metal Oxide Nanoparticles Market according to our research experts:
Electronics Sector to Dominate the Market
- Electronics sector stand to be the dominating segment, where its requirement is widely driven due to growing demand for numerous electronic equipments throughout the world.
- Semiconducting metal oxide nanoparticles-based gas sensors are witnessing great attention owing to its advantages such as fast and sensitive detection portability and low cost
- In electronics industry, metal oxide nanoparticles are employed for the fabrication of microelectronic circuits, sensors, piezoelectric devices, fuel cells and coatings for the passivation of surfaces against corrosion.
- Nanosized metal oxide has its versatile applications in different areas such as catalysts, sensors, photoelectronic devices, highly functional and effective devices, etc. Increasing the consumption of metal oxide nanoparticles in the electronics sector is expected to drive market growth.
- The above-mentioned factor, along with the growing focus on adoption of nanotechnology in various industries may cause a huge environment dispersion of nanoparticles in coming years.
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North America Region to Dominate the Market
- North America region stands to be the largest market for metal oxide nanoparticles. Factors, such as increasing utilization in the pharmaceutical, personal care, and electronics sector are likely to drive market growth.
- Zinc oxide nanoparticles market has been witnessing strong growth owing to its anti-bacterial, anti-fungal, anti-corrosion and catalytic properties. increasing application in sunscreen lotions and cosmetics on account of its high UV protection properties which in turn augment the growth of metal oxide nanoparticles market.
- Magnesium oxide nanoparticles witnessing an upsurge in consumption for furnace linings, ceramics, pharmaceuticals, and food additives and titanium oxide nanoparticles are observing utilization in medical & pharmaceuticals and cosmetics sectors.
- Metal oxide nanoparticles offer a range of functionalities that are desirable in several sectors such as anti-bacterial, anti-corrosion, easy-clean, thermal barrier, protective and UV-absorbent which is likely to provide boost to the market growth.
- According to research, the United States alone holds 48% of the global pharmaceutical market and is anticipated to continue to lead global pharmaceutical sales over the forecast period.
- In pharmaceutical industry, metal oxide nanoparticles are used for hyperthermia disease treatment and in therapeutic applications as drugs, nanocarriers, and diagnostic tools and North America region is witnessing steady growth of pharmaceutical industry which in turn expected to propel the demand for metal oxide nanoparticles.
- Hence, all such market trends are expected to drive the demand for metal oxide nanoparticles market in the region during the forecast period.
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